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Snowflake Inc. (SNOW) Gains But Lags Market: What You Should Know
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In the latest trading session, Snowflake Inc. (SNOW - Free Report) closed at $175.98, marking a +0.12% move from the previous day. This change lagged the S&P 500's 1.23% gain on the day. Elsewhere, the Dow gained 0.84%, while the tech-heavy Nasdaq lost 2.24%.
Heading into today, shares of the company had gained 5.08% over the past month, outpacing the Computer and Technology sector's gain of 3.32% and the S&P 500's gain of 4.67% in that time.
Wall Street will be looking for positivity from Snowflake Inc. as it approaches its next earnings report date. On that day, Snowflake Inc. is projected to report earnings of $0.08 per share, which would represent year-over-year growth of 700%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $661.75 million, up 33.08% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.48 per share and revenue of $2.76 billion, which would represent changes of +92% and +33.63%, respectively, from the prior year.
Any recent changes to analyst estimates for Snowflake Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Snowflake Inc. currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Snowflake Inc. is holding a Forward P/E ratio of 364.67. For comparison, its industry has an average Forward P/E of 42.68, which means Snowflake Inc. is trading at a premium to the group.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SNOW in the coming trading sessions, be sure to utilize Zacks.com.
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Snowflake Inc. (SNOW) Gains But Lags Market: What You Should Know
In the latest trading session, Snowflake Inc. (SNOW - Free Report) closed at $175.98, marking a +0.12% move from the previous day. This change lagged the S&P 500's 1.23% gain on the day. Elsewhere, the Dow gained 0.84%, while the tech-heavy Nasdaq lost 2.24%.
Heading into today, shares of the company had gained 5.08% over the past month, outpacing the Computer and Technology sector's gain of 3.32% and the S&P 500's gain of 4.67% in that time.
Wall Street will be looking for positivity from Snowflake Inc. as it approaches its next earnings report date. On that day, Snowflake Inc. is projected to report earnings of $0.08 per share, which would represent year-over-year growth of 700%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $661.75 million, up 33.08% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.48 per share and revenue of $2.76 billion, which would represent changes of +92% and +33.63%, respectively, from the prior year.
Any recent changes to analyst estimates for Snowflake Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Snowflake Inc. currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Snowflake Inc. is holding a Forward P/E ratio of 364.67. For comparison, its industry has an average Forward P/E of 42.68, which means Snowflake Inc. is trading at a premium to the group.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SNOW in the coming trading sessions, be sure to utilize Zacks.com.